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Economy – Hyundai E lantra 2011

Economy – Hyundai E lantra 2011. Moderate – Nissan Maxima. Luxury – Mercedes Benz. Financing a Vehicle. Economy 17,000 Moderate $24,000 Luxury $55,000. Contract--Promise to Pay Enforceable by law Buyer pays amount financed to include Interest rate Length of contract

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Economy – Hyundai E lantra 2011

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  1. Economy – Hyundai Elantra2011 Moderate – Nissan Maxima Luxury – Mercedes Benz

  2. Financing a Vehicle • Economy • 17,000 • Moderate • $24,000 • Luxury • $55,000 • Contract--Promise to Pay • Enforceable by law • Buyer pays amount financed to include • Interest rate • Length of contract • Incentives / Promotions • According to GMAC Financial Services • Vehicle payment <=20% of buyer’s net pay

  3. Calculate Monthly Payment • Present Value: $17,000 • Interest Rate: • Term: 60 months • Present Value: $24,000 • Interest Rate: • Term: 60 months • Present Value: $55,000 • Interest Rate: • Term: 60 months

  4. Complete the Following Time Option Worksheet Down Payment Option The Income Test

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